Name Change, Roll-Back, New CEO, and Now Financing. Great to see.
Trijet Mining Corp (C-TJT) - News Release
Trijet Mining arranges $2-million private placement
2013-02-25 17:07 ET - News Release
Shares issued 23,573,941
TJT Close 2013-02-22 C$ 0.025
Mr. Jag Bal reports
TRIJET ANNOUNCES POST CONSOLIDATED NON-BROKERED UNIT PRIVATE PLACEMENT
Further to the news release dated Feb. 22, 2013, Trijet Mining Corp. will proceed with the consolidation of its share capital on the ratio of one new share for two old shares and a postconsolidated non-brokered private placement consisting of up to 40 million units at a purchase price of five cents per unit to raise gross proceeds of up to $2-million. Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share in the capital of the company for a period of five years, at a purchase price of 10 cents per share.
The company may pay a finder's fee in connection with the private placement within the maximum amount permitted by the policies of the exchange. Certain directors, officers and insiders of the company may participate in the private placement. The private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the exchange. All securities issued in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The net proceeds from the private placement will be used by the company for general working capital.